13,714,275 Shares in Pediatrix Medical Group, Inc. $MD Bought by BlackRock Inc.

Key Points

• BlackRock acquired 13.7 million Pediatrix Medical Group shares worth approximately $347.4 million, giving it a 16.7% stake. Institutional investors collectively own 97.71% of the company.
• Analysts remain cautious, with one Buy rating and six Holds. Pediatrix has an average rating of “Hold” and a consensus price target of $25.
• Pediatrix beat quarterly expectations, reporting $0.63 in earnings per share versus $0.59 expected and revenue of $487.78 million, up 4.1% year over year.

BlackRock Inc. bought a new position in shares of Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 13,714,275 shares of the company's stock, valued at approximately $347,383,000. BlackRock Inc. owned approximately 16.70% of Pediatrix Medical Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new position in shares of Pediatrix Medical Group during the second quarter worth about $33,000. Transamerica Financial Advisors LLC acquired a new position in shares of Pediatrix Medical Group during the 4th quarter worth approximately $30,000. Eurizon Capital SGR S.p.A. acquired a new position in Pediatrix Medical Group during the fourth quarter worth $33,000. TD Private Client Wealth LLC bought a new stake in shares of Pediatrix Medical Group in the 4th quarter valued at about $39,000. Finally, Los Angeles Capital Management LLC bought a new stake in Pediatrix Medical Group in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 97.71% of the company's stock.

Analysts Set New Price Targets

MD has been the topic of a number of research analyst reports. Jefferies Financial Group cut Pediatrix Medical Group from a "buy" rating to a "hold" rating and increased their price target for the company from $27.00 to $28.00 in a research note on Wednesday, August 19th. Truist Financial upped their price objective on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the company a "hold" rating in a report on Tuesday, July 14th. Mizuho set a $24.00 target price on shares of Pediatrix Medical Group in a research note on Friday, May 8th. UBS Group lifted their target price on shares of Pediatrix Medical Group from $25.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $25.00 price target on shares of Pediatrix Medical Group in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Pediatrix Medical Group presently has an average rating of "Hold" and a consensus price target of $25.00.

Pediatrix Medical Group Stock Performance

Shares of NYSE:MD opened at $27.06 on Wednesday. The company's 50 day simple moving average is $25.87 and its 200 day simple moving average is $23.07. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 12.95 and a beta of 0.66. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 1.32. Pediatrix Medical Group, Inc. has a 1 year low of $15.69 and a 1 year high of $27.94.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $487.78 million during the quarter, compared to the consensus estimate of $478.49 million. Pediatrix Medical Group had a net margin of 8.96% and a return on equity of 20.05%. The company's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. As a group, research analysts predict that Pediatrix Medical Group, Inc. will post 2.17 EPS for the current fiscal year.

About Pediatrix Medical Group

Pediatrix Medical Group, Inc NYSE: MD is a national physician-led medical group specializing in high-acuity newborn, maternal-fetal and pediatric subspecialty care. Headquartered in Sunrise, Florida, the company delivers clinical services through hospital-based physician staffing, advanced practitioner support and telemedicine programs. Its core specialties include neonatology, maternal-fetal medicine, pediatric cardiology, pediatric critical care, pediatric emergency medicine and anesthesiology.

Founded in 1979 and formerly known as MEDNAX, the company rebranded as Pediatrix Medical Group in 2022 to align its corporate identity with its primary clinical offerings.

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